The TRUTH About Liquidation from a Reseller on Poshmark & eBay

[@creativeplum]

Agree with all your points, great info ! Processing pallets is also very time consuming and can feel overwhelming 😬You need to be really good about looking over every single item under really bright lights as soon as you get the items so you can catch any flaws or damage immediately and address the issues with the vendor (this can be the case even if the box is not damaged). If you were sold goods that were supposed to be new in retail ready condition and you receive returns/damaged items, the company you bought from needs to make it right. But if you are not able to process or go thru everything pretty quickly you can miss what would be considered a reasonable time window to address it.

[@MogiBeth]

YESSS 👏 such a good point!! And for manifested pallets, you need to make sure everything is there. I once had a manifested pallet that had 30% missing, but I was so backlogged that by the time I got to it, it was too late. In the future we plan on providing resources on how to properly process pallets!

[@sewitseams4529]

I had a baaaad experience with B&G and basically will never order straight up wholesale liquidation ever again without doing my research. Thanks for being honest and not just taking any sponsorship that comes along like almost every other KZbin reseller.

[@MogiBeth]

Thank you for sharing your experience!! That’s really helpful!

[@natashashen8868]

Same here! Ordered from B&G. Barely made my money back. Still have some items a year later

[@awkwardgirlthrift3597]

B&G sent me a palette that was complete garbage, nearly every item severely damaged,. 2K+ loss. NEVER order from them.

[@erinrafferty5659]

Same! I got two boxes, about a year ago now. $15/item, and some had retailed for $10. I still have quite a few listed. I would only do liquidation again if I found a more direct source and could get that COG down!

[@lorilob]

Don’t EVER go away, Mogi❣️ Your teachings are priceless and inspirational, thanks a bunch 💐

[@haleym.6102]

I am so thankful for Mogi Beth! When I’m sourcing I’m constantly thinking, “What Would Mogi Beth do?” It has helped me a lot. Thank you!

[@MogiBeth]

💗💗💗☺️thank you so much!

[@BlissfulDee]

WWMBD

[@Randis-vv5hg]

Mogi Beth - you are consistently so business oriented and informative - I always grab a notebook and pen before I watch your videos so I can take notes. Many, many thanks. You are such an asset to the community.

[@elducho]

Great comprehensive video on liquidation, Mogi! It’s tough to talk about liquidation, especially when you’re a person who likes to share info with others. With liquidation though, as you said, the best way to learn is to do your own research. ♥️

[@MogiBeth]

Thank you Denali!! I love all your content about liquidation too! Yesss 👏

[@susanandriopoulos8143]

What an honest and thoughtful video. I have bought 2 small liquidation boxes and although I will not lose any $$ I fully agree with all your points. Right away I knew I am much better off choosing what I resell than letting someone else choose for me. Love your Alpha comment, it’s so true. Thank you for sharing your knowledge.

[@larainekossis4480]

Thank you so much , love your videos, I worked in retail years ago, actually was a buyer, but I always learn so much from you, love your attitude, energy and generosity in sharing so much great info.

[@briannapinspeonies2512]

You are so well spoken and are a wealth of knowledge. Thank you for a crash course in liquidation!

[@theresakralik1820]

Very good summary of the process of liquidation. I found that my liquidation pallets had profitable items that would make a return on investment...but....I had to sell the remaining items to make a profit. I was excited to have high-end items to sell delivered to my door until I realized I was just getting my money back. They did sell fairly quickly.. I had to sell the items I would never buy while sourcing and wait for 6 months to make a profit. It was not fun to picture and describe items I did not like. Profitable in the long run but greulling work. Tedious! Greulling! I could have been sourcing rather thatcworkingbout of my pallet.

[@hannahfettig]

This is so candid and helpful, thank you!! I don’t think Liquidation is for me after watching this video, which is kind of a relief honestly!

[@MogiBeth]

Yesss 👏 the grass is not always greener

[@Rollie-go]

I LOVE your in depth analysis, intelligent insights and honesty, it is sooooo refreshing

[@InThisEssayIWill...]

Really good breakdown of the pros & cons! Reselling is just my tiny side Hussle at the moment and I can't say that liquidation wasn't looking pretty tempting because my free time is really limited but you've given me some more stuff to think about before I take any dives

[@MogiBeth]

Yesss! Thank you so much! That’s always my concern with sharing these things on social media-it’s easy to paint a rosier picture than it actually is!

[@pamv183]

Good points. I have been selling online since 1997 and my sourcing has changed numerous times. I have sold pallets on a liquidation site when I had a great source. After that source dried up, I became more of a buyer of liquidated pallets and while I made tons of money on a few, I lost my butt on many. Some were so bad I took entire losses because I could not see a way to get any return for my investment. And you are right...its no fun I have better luck thrifting but I will probably never get rich doing it.

[@alysonyogi3890]

Thank you for always being such a reliable, informative resource! I couldn’t have gotten my business started without you!

[@MogiBeth]

💗☺️thank you so much

[@acardamone9]

I just had a horrendous experience with a Quicklotz Nordstrom pallet. They accidentally sent me a pallet meant for their bins store and it was was well over 60% damaged and almost everything else was cheap house brands. They said they would replace the damages so I was expecting around 200-250 items. I received less than 60 in replacements. They have stopped responding to my emails and they deleted my review from their website. Definitely proceeding with caution as far as liquidation goes and avoiding almost all of the well known companies.

[@Westcoast10]

Quicklotz cherry picks their inventory, they own a retail store and sell online

[@la6136]

Good to know I will not buy from them

[@shannonw5999]

Thanks for the video! Could you talk about your processes in terms of sorting through the inventory and also what you do to move along stuff that's not worth your time to list?

[@andreanoriega1102]

Loved this video Mogi. This has brought even more awareness to how important it is to do our research as resellers.

[@alysonyogi3890]

Just received my QuickLotz full pallet of Nordstrom General Merchandise. They didn’t need my resellers permit number. $2,400 including delivery. It was mostly >$5 Christmas jewelry and 5 broken Dysons. I’m incredibly disappointed.

[@MogiBeth]

Thank you for sharing your experience!! I think that’s really helpful!!

[@alishahasty4205]

You can sell the broken Dysons for parts on EBay if you think it’s worth it. I don’t know what you got, but there’s some solds for $100+

[@Launena100]

Thank you for such an informative video! I don’t think I would ever buy liquidation pallets since thrifting is the main reason why I resell😅 Also thank you for being so honest and transparent 💕☺️

[@michellefinley5993]

Your Chanel is at a higher professional level. Thank you for your efforts and content. It is always valuable.

[@MogiBeth]

Thank you so much!!

[@Yanelyshm]

100% agree. Honestly, unless I do have a lot of capital to "lose" as you mentioned (due to the risk of purchasing palette), I would only purchase a pallet with a manifest or without a manifest, but from reliable and reputable source as you mentioned. I recently purchased a B&G Box and it was pretty bad. Most of my own followers agreed that (based on my box and some of their own experiences) this company is not worth the risk. It even included several items from LA MADE, one of which had the actual retail tag stating it was from their 2011 line! Needless to say, I couldn't find any stock photos and the pieces were pretty unattractive and boring - which is the typical aesthetic for the brand. B&G markets this as their "Premium Revolve and Nordstrom" Box, but it was very clear that it was a lot of low tier brands from these sites and pretty outdated. I also found the pieces to be over-saturated on Poshmark. Great video!

[@MogiBeth]

This is SUPER helpful!! Thank you so much!

[@Janedoe-mo6nj]

What did you do with that inventory?

[@Yanelyshm]

@@Janedoe-mo6nj I listed it all for a pretty low price (just to get my money back). Unfortunately, after reaching out to them because I became increasingly disappointed with the box (I have a video on my channel about it), they told me it was returnable. This wasn't clear to me originally and I had already sold one item which was the only good item and was oversaturated on poshmark. So now I am still stuck with almost all the items. I've only sold 2.

[@Janedoe-mo6nj]

@@Yanelyshm Awe, that's too bad.

[@sewitseams4529]

Same experience with B&G's false advertising. The listing listed all the desirable resellable brands and mentioned it was "common" to receive (1 or 2) of those items. But they didn't mention that 75-90% of the box would be the lowest value house brands from Macy's & Nordstrom. I got mostly Style & Co, Charter Club, and Karen Scott pieces that I could've actually gotten cheaper directly from Macy's clearance section. Except I would never because Those. Brands. Don't. Sell. I opened a PayPal dispute, fought with them for almost two months. Eventually they said they'd give me a full refund, then backtracked when they received the return. The shitty CEO who handles the refunds even tried to REDACT THR REFUND and I had to have PayPal step in and reinforce it back to me. Overall a totally crappy and dishonest company that I would advise everyone to AVOID. And please fight for your hard earned money! I'm glad I did but what a waste of time and energy!

[@tynawalenski673]

I ordered a denim rescue and Men's rescue from Thred up. They accidentally sent me 2 50 lb boxes of denim. Even with that, I ended up donating most of it because I just didn't feel like listing it because the value was so low. I also learned that the thrifting part is what makes reselling fun. Without I lose my motivation

[@googleharvey]

Thank you for your videos, some day I want to take your class. Your You Tube videos help me so much. I make a point to watch one during lunch each day as I transition over to my reselling business from other responsibilities that I care for each morning. They help me to make goals and work hard. Thanks so much.

[@giftedafflicted]

I truly appreciate how straight forward, well thought out and insightful your videos are. I’m not ready financially for liquidation but It’s interesting to learn about.

[@MogiBeth]

Thank you so much!! Yesss, I love that perspective

[@Krissy19986]

We truly appreciate your honesty in vid! Thank you 😊

[@stardavis6618]

This was such a thorough and informative video, thank you!!

[@Bogotana64]

Mogi, I love getting your newsletter and learning so much from you! I would not purchase a pallet simply because I want control of what I get for the money I am spending. I work full time and am a part time reseller.

[@rebelroseco]

super helpful! i had tried b&g in the past and got the same damaged overpriced oversaturated items as everyone else lol guess i need to do more research! thanks for sharing!

[@alytheinfamous]

I did a boutique box back in December for $200 (maybe $300?) & would say about 80% of it was too low end (BP brand plain T-shirts) to sell or quite damaged. There was a handful of decent sellable items but I don’t know that i made enough of a profit to justify that purchase. I recently did a TU mixed shoe box & was actually pleasantly surprised with it. For the $90 cost, I sold one pair of Ferragamo shoes for $100 so everything after that was profit. I didn’t have to donate any based on condition but a couple were just so plain and not worth the time. Thanks for the informative video! Liquidation pallets seem cool but scary haha

[@Melycast3]

I tried a liquidation box from B&G Trading during the pandemic last year. I still have several pieces that just will NOT sell. I don't think I will do liquidation again.

[@moonstoneloveboutique6929]

Same!!! I ended up taking the stuff to Plato’s Closet I became so frustrated with the items!

[@tatianaleon7676]

Excellent video on liquidation! Your comments on liquidation were backed by data and Analysis. Thank you very much!

[@vidagster]

Such an informative video! Thanks so much. I've been so curious about liquidation and I totally appreciate your honesty and insight!

[@2ndwind_style]

I have been wanting to wet my feet in liquidation, but felt I needed to learn more about the pros and cons. This video is absolutely a Godsend! Thanks Mogibeth!

[@ethicalseconds4051]

Fantastic informative video. Thanks for the breakdown!

[@bajacowgirl3228]

I've bought a few smaller boxes, and in my experience, I end up with items that don't sell. Obviously these large chain stores are sending out all the items that didn't sell for them, so clearly it's going to be hard to move. A year and a half later, I am STILL trying to unload dresses I received from B&G Trading. Rescue boxes from places like ThreadUp, I have also stopped buying. I've purchased a few shoe boxes, and again in my experience, I end up with about half of them I cannot sell. So a box of 15 shoes at $6 per pair (is what the cost is on TU), I end up only being able to sell 50% so that brings my COG up to $12!!! Definitely not worth it.

[@cmyron115]

Always love watching your videos Mogi! So on point and on trend 💃 I’m in Canada so there are fewer places to source from. Already did lots of research without much luck... would you recommend calling brand name retail stores directly that most likely have overstock and asking if they sell to a liquidator/broker?

[@jchhem32]

I completely respect liquidation secrecy. Thank you for pointing us to the right direction 🙏👍😊🙌❤

[@MogiBeth]

Absolutely!! Thank you for being so understanding ☺

[@SecretsofWanderlust]

This was really helpful thank you. I appreciate you no giving your source to be honest. It makes me feel a sense of accomplishment when I figure it out.

[@MogiBeth]

Yes! And if I shared my sources, they would become flooded & no longer good opportunities anyways!

[@brittanyjones20]

Loved this video! But I have to know what top you’re wearing! Obsessed! 😍

[@MagicCoachWagner]

Thank You!! 🙏 for this video. I appreciate you!!!

[@cclovelacegrace]

Do you have any videos like live walk through on the computer on how you do your numbers every month??

[@kimc5917]

Great info and well presented.

[@thomaspilarski1591]

Hi Mogi, How are you, I do have account in Poshmark.com but sales is very slow, do you have any advise?

[@MogiBeth]

Start by watching this video! kzbin.info/www/bejne/gJrTm6KLrJV8Z9E

[@lovinglifefreely]

when purchasing NWT what is the average % you should make on top of the COG?

[@MogiBeth]

Hello, I don't think there is a particular "right" answer since your margins are so heavily influenced ny your COGS. We go over this in more detail here: kzbin.info/www/bejne/sH2coWN5g92AZpI Hope this helps, - Matt

[@janellemargot4376]

Haven't watched but excited 😆

[@MogiBeth]

Yay!! I hope you like it 🙂

[@JenniferLynn_11]

I purchased a pallet in April, still processing it. I ended up finding a manifested one that store stock. Even knowing what I was going to get some of it was still a surprise, some items it was like they sent the entire rack! And the hangers! Omg! What to do with them?! But I have no doubts I’ll make my money back, it’s a long term investment for sure.

[@TJ-yv3kp]

I sell all of my hangers on Facebook marketplace and/or Ebay in lots Drycleaners, boutique owners and reseller will buy

[@MogiBeth]

Ohhh that's really good to know! It frustrates me that they don't reuse the hangers 😕

[@AbeniBamidele]

Exceptional information.

[@by_camille]

Can I ask why you are disputing with the carrier for your damaged pallet? You likely paid the liq company and they in turn paid the freight company, so they "should" be taking care of you and disputing with the carrier directly. (I work in freight!) I can also say this may be considered used good which then puts a much lower liability on the freight carrier (pennies on the pound), FYI!

[@MogiBeth]

Without getting into it, it was 100% the carrier’s fault. But yes, the liquidator filed the dispute on our behalf!

[@bethanyann6310]

How do you get permission to use stock photos? I see so many people on eBay, Posh etc. using stock photos. I would love to use them, but don’t know how to get permission? Do you just use them without getting permission? If so, have you ever gotten in trouble from the companies?

[@penelopeolive3716]

Just use them.

[@sewitseams4529]

It's a sticky subject but there's something called fair use which allows using otherwise copyrighted material if there's been any alteration to it, or it doesn't necessarily cause a financial loss to the copyright owner, etc. Since the vast majority of my inventory is 1. Pre-owned (therefore appealing to a somewhat different customer base) and 2. No longer sold in stores, plus 3. I often make collages of stock photos so I'm not just straight up using the company's material, I'd say it constitutes fair use. In the past I've had Urban Decay and Vineyard Vines flag my listings for using their stock photos, which I had no issue with, I'd just relist with original photos. So if the company has a problem with it they can go in and do that.

[@dianacelio5018]

Note: there are some companies that will not allow you to reuse their stock pics. ie Lululemon . You’ll risk your items to be taken down from the platform. Trust me ! It happened to me . However , as long as you take your own pic. You should be good.

[@bubbie23jw]

Great video

[@MogiBeth]

Yay! Thank you!

[@EastonsYoutube]

OH MOGI!

[@bajacowgirl3228]

I think you need new flowers .... LOL! xoxo

[@mattegts662]

I wish you check your sound system because there’s echo and it’ always feels like it’s so loud ..kinda hurting my ears. It’s so different from other videos from other people.

[@Lwhosane]

Jebus . Christ. Everyone says the same thing . I can’t tell you me source. Blah blah blah. Why? How can any of expect to do exactly what you are claiming to help us do (in this particular field via liquidation) so so lame sorry.